Office of Evaluation and Oversight

OVE is independent of management and answers to the Board of Executive Directors. Its activities include ensuring that strategies, policies and programs comply with the IDB's objectives and mandates. OVE oversees the Bank’s internal monitoring mechanisms and conducts ex-post project evaluations.

Internal Audits

The main function of the Office of the Executive Auditor (AUG) is to provide internal auditing designed to add value and improve the Bank's operations. AUG helps the IDB to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

AUG serves as the principal advisory unit to the IDB President, providing periodic, independent, and objective appraisals and audits of financial, accounting, operational, administrative, and other activities, including identifying possible means of improving the efficiency and economy of operations and the use of resources.

External Audits

External audits of financial statements are used for project executing entities, and the projects themselves, during the execution period, until all project funds have been disbursed.

Audits verify that resources were used appropriately and that the project executing agency complied with financial contractual clauses.

Oversight of the Procurement Process

The Procurement Committee, whose members are six senior bank managers, continually reviews the Bank’s procurement policies and rules and resolves major procurement-related issues arising during project implementation.

Independent Consultation and Investigation Mechanism

The ICIM process includes two phases: a Consultation Phase that provides the opportunity to address requesters’ concerns applying consensual and flexible approaches and a Compliance Review Phase that enables requesters to ask for an investigation of a Bank-financed operation by a Panel of independent experts with the objective of establishing whether any Bank action or omission has resulted in non-compliance with a Relevant Operational Policy and direct, material adverse effects to the Requester.

The Office of Institutional Integrity

The Office of Institutional Integrity (OII), an independent advisory office within the Bank’s basic organization, investigates charges of wrongdoing, recommends sanctions and develops “red flags” teaching materials to help deter fraud in public-sector procurement, among other activities.

The Case Officer reviews OII investigative findings and has the authority to sanction parties for wrongdoing. Case Officer recommendations can be appealed to the seven-member Sanctions Committee, which includes four external members.

IDB Administrative Tribunal

The IDB Administrative Tribunal was established to settle the disputes which arise out of the employment relationship of the Bank or the Corporation with their staff members